Hi folks, I am back. Three days in Moscow were wonderful. I think I will go back for a longer visit. Three weeks in India were great. Visited some relatives there and took my daughter to many places. This was her third visit to India, so she is a veteran. Came back on 13 July. Went to Santa Fe, NM for 9 days with the family (wife, son and daughter). I came back early. I do have to work to make a living.
For last six week I had only two transactions. Didn't bother looking at the market. Before I left, I had placed a good till cancel order to buy mxim at 37 in my trading account (20% capital on margin). It got filled last wednesday. I sold it at 45.25 on friday for a quick profit.
Here is what happened.
Account A: Before I left I had
******Written covered call nvls July 50 for $7.90, Nvls July 55 for $5.10; lltc july 50 for $7.20, Amat july 50 for $7.30; Mxim June 55 for $2.50. (from a previous post)******
Well, All the calls expired worthless and I still have my shares. I will write covered calls again once above 50 for amat, mxim and lltc.
Score: amat calls so far: three times about 5.50, 2.50 and 7.30, and simillar profit on other calls. This brings my buying prices way down.
Account B: Not such good luck.
(trading) *****bought sunw, itwo for trading before I left of the trip*****. Bought itwo at 17.30, it is at 10.00 now. Bought sunw at 18, it is around 16. traded mxim (buy at 37, sell 45.25) recovered half of my itwo losses.
I did not follow my discipline. Did not put a stoploss and got burned.
Here is my plan. I think the stocks will be rangebound until some news comes about order pickup. My guess is that we will test the lows again and highs will be past midfifties, in what order I do not know. I will write covered call again on amat, mxim, lltc and nvls.
will get rid of itwo and sunw at a loss. I will play my core stocks (amat,nvls, mxim, lltc, txn, altr, xlnx, amgn, bgen and intc). I will trade these for quick profits with tight stoplosses in my trading account. Each time I try new stocks I get burned.
Happy trading.
kdavy |
